The statement follows revelations from Musk that he had entered discussions with TSMC, which caused Intel shares to fall 3.9% in premarket trading. The move to reassure investors comes as Intel faces potential competition from the Taiwanese foundry for the partnership in Musk's production project.
Wednesday, October 21, 2026
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Intel Stays in Elon Musk Terafab Project After 3.9% Share Drop
Tech14 days ago
Chief Executive Officer Lip-Bu Tan told reporters in Tokyo that Intel is continuing its collaboration with Elon Musk on the Terafab chipmaking venture. Tan provided the confirmation ahead of an event celebrating Intel's 50 year presence in Japan, reaffirming the company's role in the trillionaire's effort to produce cutting-edge semiconductors.
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